Initiative Q - the future of payments or the elaborate scam? The investigation. What is it? Inititative Q is gaining a lot of traction with a lot of activity on social media mostly Facebook and Twitter. It seems that a lot of people that aren't familiar with cryptocurrencies see this as the new Bitcoin with chance of getting rich. The premise of the Inititative Q is building a new payment network. In order to adopt it, they’re giving away significant sums of their future currency to early users. The currency is 'Q' which they aim to leverage into the “one global currency”. Reserving Qs for people who sign up is Initiative Q’s way of generating hype and encouraging early adoption - the only way this new payment system can actually be built. According to the roadmap the network launch is expected to happen at the end of 2021 but the team states that there is no guarantee that any of these steps will be successfully completed. How does it work? Initiative Q uses a referral system meaning users need a referral code – posted by someone else – to become a member. The person who invited then needs to “verify” the registration. Once users are approved, a certain amount of Q will be reserved for them and they will get their own referral code to recruit a limited number of new members who, in turn, they will need to verify. All of that creates a web (or pyramid) of new people. Registering allows you to reserve specific amount of the Q currency, the current worth of the reservation which the company displays on the website. This supposed to encourage the registration. The Q will be unified system for payments, sales, and transfers that works everywhere instantly. The aim is for (Q) to be used in all territories, avoiding the need to exchange currencies at hefty fees. Credibility The Initiative Q was created by Saar Wilf who has some experience with startups as well as the payments world. The website claims that 'The Initiative Q team comprises top experts in payment systems, macroeconomics, and Internet technology' but there are no names/details about who the memebers are so the team is basically anonymous. This is a first big red flag since we have no means of verification of whether the team is capable of pulling this grand project off. On the website it states they will start recruiting more once they have more members but there is no guarantee that will happen. On top of that there is no details about the funding - project like that would require a lot of funds to build. There is also no platform or any of kind proof that the system is in the works: no MVP, alpha or beta versions - they are basically getting people to sign up first and then build everything. Plan All of that means that Initiative Q needs millions of members to persuade investors to invest real money - and only once the cash is in place, team can be recruited and the network actually be built. The other aim of this project might be collecting lists of people, combined with their email addresses and their close friends (basically network of people). Personal data is worth a lot of money and since the registration must be confirmed that they are legit majority of the people on this list will be real people. This makes that list very valuable for advertisers for example who might use that data for targeted ads. Selling those lists is one way that Initiative Q might make money. If they use that money for the actual project as they supposed to is another story. The actual implementation of the project is so far away that most people will forget about it anyway even if the project is a scam and nothing is implemented. Conclusion The Initiative Q: has no working product, very vague plan and project description (basically just using fancy words), anonymous team, funding of the project not explained There is no clear proof that Initiative Q is a scam but there are many red flags that makes this project very hard to treat seriously. It all comes down how much you value your personal data. For now they only need names, email and password (use unique password in case this is an attempt to steal accounts) but I wouldn't be surprised if they ask for more in the future from people who registered. In my opinion there is also no clear advantage of the idea when compared to cryptocurrencies - there is also no use case for actual Q token which makes less valuable then cryptocurrencies like ETH. Bitcoin has also advantages due to first mover advantage. There are also projects like Request or UTRUST that have similarities and are further in development. Even if not a scam I don't see how Q would take off.

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